Christchurch Property

Well located two bedroom unit in a complex of four in an affordable price bracket. If you are going to start your property investment journey then one of the fundamentals is 'location, location, location' as they say. To have a versatile investment property it is useful if it is located close to areas of employment and other attractions, as tenants need a reason to live there. This unit is located approximately 3.2km from Cathedral Square and is also only 1.1km from Edgeware Village. This means there are plenty of attractions within a very short distance. This sunny north facing 60m2 unit was built in the 1970s (as many similar properties were) and has stood the test of time. It is rented on a fixed term tenancy until 02/02/20 at a realistic $309 per week. The current median rent for the area and upper quartile (courtesy of Tenancy Services) is $310pw and $340pw respectively. The unit is generally presented in a tidy condition, but there is scope to enhance further with the right touches internally and externally to add value to the investment. The vendors are realistic and we would expect a gross yield in excess of 6% to be achieved based on a sale price around the mid $200,000s. This relates well to the current low interest rate environment where borrowing rates are presently in the low 4s. Great first investment or ideal option to add to your existing portfolio. An information pack is available upon request and viewings are strictly by appointment. Agency reference #: S1842